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RBNZ Governor Wheeler Speech - NZD Lower
October 14 2015
RBNZ Governor Wheeler Speech - NZD
Lower
The Reserve Bank Governor Graeme Wheeler
has just made a speech to Institute of Finance Professionals
Conference in Auckland.
His key points were:
• Some further easing in interest rates seems likely
• Easing depends on emerging flow of economic data
• Conscious of impact of low rates on housing
• Greatest concern at this point lies around China growth outlook
• Any substantial depreciation of the Yuan would have serious implications for the world economy
• US is the main bright spot in the global economy
• Monetary policy is relatively powerless to influence decisions that determine long-run economic performance
• There is little monetary policy can do to persistently lower an exchange rate
• Recent economic indicators have been more encouraging
• Mentions for a 2nd time some further easing seems likely, depending on data
NZD is lower in immediate response.
Here’s the link to the full RBNZ press release on the speech:
http://www.rbnz.govt.nz/news/2015/infinz-speech-oct-2015.html
Current indicative levels are:
NZD-USD
0.6635 / 0.6660
NZD-AUD 0.9155 /
0.9180
NZD-EUR 0.5830 / 0.5855
NZD-GBP
0.4345 / 0.4370
NZD-JPY 79.50 / 79.75
ends
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